Navicure, a provider of cloud-based healthcare claims management, patient payment and data analytics solutions, has released its most recent national survey highlighting current data analytics usage and additional needs for healthcare organizations.

The survey, administered in May and June in conjunction with Porter Research, found of the 622 survey respondents, only 216 were using a data analytics and reporting solution to analyze their revenue cycle (other than utilizing a tool such as Microsoft Excel).

1. The majority of overall survey participants (55 percent) do not have a data analytics and reporting solution in place to improve their revenue cycle. However, 45 percent of those without a solution are in the process of looking for one.

2. Respondents who don't have or aren’t looking for a data analytics and reporting solution named various reasons for not utilizing one. Topping the list was:

Don't think we need one (36 percent)

Don't have the budget (23 percent)

Don't have the time (13 percent)

3. The majority of respondents (88 percent) indicate analytics and business intelligence solutions are extremely or very important in making business decisions.

Difficult to get actionable reports for use in addressing issues (19 percent)

7. Still, the survey found a majority of respondents said data analytics and reporting solutions have had a positive impact on their organizations. Seventy-one percent of respondents said solutions helped their organization improve cash flow by reducing days in accounts receivable, followed by increasing revenue by identifying bottlenecks to get paid more quickly (56 percent).